Power prices are up 76% on America’s biggest grid, and a watchdog is pointing fingers

The largest electrical grid in the U.S., the PJM Interconnection, saw prices nearly double over the last year, according to a report published yesterday by an independent monitor. The culprit? Data centers.

Wholesale prices for one megawatt-hour of electricity rose to $136.53, up from $77.78 at the same time last year. Crain’s Chicago Business was first to report on the spike. Monitoring Analytics, the independent market monitor that serves as a sort of watchdog for the PJM grid, pointed the finger at data centers and PJM’s failure to handle their surging demand adequately.